15 March 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The March methyl methacrylate (MMA) contract price in Europe has been agreed at an increase on the back of tightening supply, improving demand, firming raw material costs, and also as an attempt to restore margins, sources said on Friday.
This is the first monthly contract price increase the market has seen since September last year. Monthly MMA contract prices fell by €95-120/tonne ($123-156/tonne) from September 2012 to February 2013 on ample availability, amid global economic uncertainty.
Further hikes are expected to be targeted in April and in the second quarter.
“Discussions were not as bad as expected,” one producer said. “We went out with higher targets, but what they [buyers] don't take in March, they will take in April for sure,” it added.
Feedstock acetone contract prices have risen by €75/tonne since the beginning of the year.
March MMA contract prices are at €1,690-1,720/tonne FD (free delivered) NWE (northwest Europe), up by €10-30/tonne from February.
Nearly all MMA is polymerised to make homopolymers and copolymers, with the largest application being the casting, moulding or extrusion of polymethyl methacrylate (PMMA) or modified polymers.
PMMA is a transparent thermoplastic, often used as a lighter, shatter-resistant alternative to glass.
($1 = €0.77)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections